ALBANIA
Albanian private investment group Balfin Group, one of the most active private investment groups in the Western Balkans region, through its Vienna-based real estate subsidiary Balfin Austria, introduced five residential projects in Austria valued at approximately €68 million and covering a total of 6900 m².
BOSNIA-HERZEGOVINA
The number of building permits issued in Bosnia and Herzegovina reached 479 last month, up 25.7% on an annual basis, the statistical office said. Building Permits in the country averaged 371.09 Units from 2019 until 2024, reaching an all time high of 526.00 Units in October of 2023 and a record low of 268.00 Units in January of 2020.
CYPRUS
Short-term rentals are driving up apartment prices and causing accommodation shortages for students the president of the Cyprus real estate agents association Marinos Kineyirou told state broadcaster CyBC. Limassol remains the most expensive city for renters as one-bedroom apartments range between €1,000 and €1,100 per month, nearly double the price in Nicosia.
GREECE
Greece experienced the largest drop in Average Daily Rate (ADR) for Airbnb accommodations across Europe last month, according to an analysis by AirDNA. The analytics firm’s report revealed that Greece’s ADR decreased by 9.8% in July, marking the first significant decline in 20 months for the European short-term rental market.
To read more about Greece’s real estate market click here.
ROMANIA
In H1 2024 deliveries of new retail spaces in Romania totaled 87,400 square meters, up from 30,000 square meters completed in the same period a year ago, an evolution fueled particularly by the development activity of the second quarter, real estate consultancy Cushman & Wakefield Echinox data showed.
To read more about Romania’s real estate market click here
SLOVENIA
“A significant challenge facing the Slovenian real estate market is the difficulties and delays in obtaining building permits, particularly affecting companies constructing prefabricated houses. These delays have been exacerbated due to a long-term strike among administrative unit employees, protesting low wages and high workloads” Polona Bozicko, Partner, Zagorc & Partners wrote on Issue 11.7 of the CEE Legal Matters Magazine.
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